Business & Finance: Steel & Earnings

Year ago last week the prudent directors of U. S. Steel Corp. pared their preferred dividend from $7 to $2 a share. Big Steel had just piled up a staggering deficit of $91,891,867.85. Last week when the directors of the biggest U. S. industrial corporation met to ponder dividends at No. 71 Broadway, Manhattan, they had before them the annual report for 1933. Against an operating loss of $12,729,000 in 1932 was an operating profit of $18,439,000. To this was added special income of $1,335,000. But from that total was deducted $55,795,000...

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